NYSE$ALLE
Allegion · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Allegion's Q1 performance set a solid foundation for the year, with strong execution and expanded margins.
Allegion reported a decrease in revenue by 3.2% to $893.9 million, with a net income of $123.8 million, or $1.41 per share. Adjusted EPS was $1.55, a decrease of 1.9%. The company affirms its full-year outlook.
- Net earnings per share (EPS) of $1.41, up 0.7% compared with $1.40; Adjusted EPS of $1.55, down 1.9% compared with $1.58.
- Revenues of $893.9 million, down 3.2% on a reported basis and down 3.6% on an organic basis.
- Operating margin of 19.3%, compared with 18.5%; Adjusted operating margin of 21.2%, up 40 basis points compared with 20.8%.
- Affirming full-year reported revenue growth, organic revenue growth, reported EPS, adjusted EPS and available cash flow.
Headline financials
Revenue & EPS history
Allegion · Revenue · Quarterly
$894M
Revenue by segment
Allegion · $918M total across 2 segments · Q3 2023
- Allegion Americas$741M-0.8%80.7%
- Allegion International$177M+6.3%19.3%
Forward guidance
The company affirms its previously disclosed full-year 2024 outlook. Full-year 2024 revenues are expected to increase 1.5% to 3.5% on a reported basis and increase 1% to 3% organically. Full-year 2024 reported EPS is expected to be in the range of $6.45 to $6.60, or $7.00 to $7.15 on an adjusted basis. The company expects full-year available cash flow of approximately $540 to $570 million.
Tailwinds
- Full-year 2024 revenues are expected to increase 1.5% to 3.5% on a reported basis.
- Full-year 2024 revenues are expected to increase 1% to 3% organically.
- Full-year 2024 reported EPS is expected to be in the range of $6.45 to $6.60.
- Full-year 2024 adjusted EPS is expected to be in the range of $7.00 to $7.15.
- The company expects full-year available cash flow of approximately $540 to $570 million.
Headwinds
- The outlook assumes a headwind of approximately $0.37 based on a full-year adjusted effective tax rate of 18% to 19%, inclusive of the estimated impacts of global minimum tax.
- Adjustments to 2024 EPS include estimated impacts of approximately $0.46 per share for acquisition-related amortization.
- Adjustments to 2024 EPS include estimated impacts of approximately $0.09 per share for restructuring and M&A.
- The outlook assumes an average diluted share count for the full year of approximately 88 million shares.
- Year-to-date available cash flow for 2024 was $23.9 million, a decrease of $22.8 million versus the prior-year period.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.3%
Avg return
Earnings day
-0.7%
Avg return
5 days after
-0.9%
Avg return
30 days after
48%
26 / 54 earnings
Positive
+10.3%
Q1 2025
Best reaction
-9.5%
Q2 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.6% | -8.7% | -12.6% | |
| Q4 2025 | -9.2% | -9.7% | -19.9% | |
| Q3 2025 | -2.5% | -3.7% | -7.2% | |
| Q2 2025 | -0.6% | +0.1% | +3.2% | |
| Q1 2025 | +10.3% | +9.3% | +11.7% | |
| Q4 2024 | -5.6% | -4.7% | -4.3% | |
| Q3 2024 | -5.5% | -7.3% | -6.3% | |
| Q2 2024 | +4.5% | +8.2% | +7.7% | |
| Q1 2024 | -2.1% | -3.9% | -3.1% | |
| Q4 2023 | -1.0% | -2.5% | +2.2% | |
| Q3 2023 | +1.2% | +4.3% | +8.6% | |
| Q2 2023 | -9.1% | -8.0% | -13.6% | |
| Q1 2023 | +9.3% | +8.6% | +5.1% | |
| Q4 2022 | -1.1% | -1.7% | -12.5% | |
| Q3 2022 | +9.1% | +9.5% | +17.5% | |
| Q2 2022 | +1.4% | -1.4% | -6.3% | |
| Q1 2022 | +1.1% | -0.4% | -3.4% | |
| Q4 2021 | -2.6% | -3.5% | -0.5% | |
| Q3 2021 | -2.4% | -5.4% | -2.2% | |
| Q2 2021 | -0.9% | -2.7% | -1.3% | |
| Q1 2021 | +4.0% | +3.4% | +3.3% | |
| Q4 2020 | -7.6% | -7.8% | +3.1% | |
| Q3 2020 | -1.0% | -4.5% | +8.8% | |
| Q2 2020 | -9.5% | -11.7% | -10.2% | |
| Q1 2020 | +3.9% | +9.3% | +1.4% | |
| Q4 2019 | -5.6% | -7.4% | -32.2% | |
| Q3 2019 | +8.6% | +10.6% | +14.1% | |
| Q2 2019 | -2.7% | -3.6% | -13.7% | |
| Q1 2019 | +2.9% | +3.9% | +4.0% | |
| Q4 2018 | -3.9% | -2.0% | -2.9% | |
| Q3 2018 | +3.7% | +6.1% | +11.8% | |
| Q2 2018 | +1.9% | +1.8% | +9.0% | |
| Q1 2018 | -6.3% | -7.1% | -5.1% | |
| Q4 2017 | +4.8% | +4.2% | +2.3% | |
| Q3 2017 | -7.2% | -3.6% | -4.1% | |
| Q2 2017 | +3.7% | +3.8% | -1.1% | |
| Q1 2017 | -1.4% | -2.6% | -0.4% | |
| Q4 2016 | +6.4% | +5.1% | +10.2% | |
| Q3 2016 | -3.0% | -3.2% | +3.5% | |
| Q2 2016 | +0.7% | -0.3% | -0.4% | |
| Q1 2016 | -2.1% | — | — | |
| Q4 2015 | +4.8% | — | — | |
| Q3 2015 | -0.0% | — | — | |
| Q2 2015 | -0.8% | — | — | |
| Q1 2015 | +1.5% | — | — | |
| Q4 2014 | -1.6% | — | — | |
| Q3 2013 | +5.6% | — | — | |
| Q3 2014 | +5.6% | — | — | |
| Q2 2013 | -1.9% | — | — | |
| Q2 2014 | -1.9% | — | — | |
| Q1 2013 | +4.8% | — | — | |
| Q4 2012 | +4.8% | — | — | |
| Q1 2014 | +4.8% | — | — | |
| Q4 2013 | +2.8% | — | — |
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